Golden days for SSAs but central bank stress ahead

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By Craig McGlashan
06 Apr 2017

The public sector primary market has enjoyed one of its most sparkling weeks of the past few years, with deals printed across both the euro and dollar curves with great success. But under the surface, there is growing concern about the inevitable volatility that will come the SSA market’s way as central banks decide what to do with their quantitative easing programmes and the assets they have bought under those programmes. Craig McGlashan and Lewis McLellan report.

Despite assurances on Thursday from European Central Bank president Mario Draghi that eurozone quantitative easing would last until at least the end of this year and the bank would not increase rates until after the asset purchase programme ends, some money market funds still see a risk of ...

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